XML 40 R29.htm IDEA: XBRL DOCUMENT v3.5.0.2
SEGMENT INFORMATION (DETAILS)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2016
USD ($)
Jun. 30, 2015
USD ($)
Jun. 30, 2016
USD ($)
reportable_segment
Jun. 30, 2015
USD ($)
Dec. 31, 2015
USD ($)
Segment Information [Line Items]          
Number of reportable segments | reportable_segment     2    
Net premiums earned $ 946,990 $ 941,211 $ 1,849,331 $ 1,845,264  
Other insurance related income (loss) (892)   (1,094)    
Other insurance related income (loss)   3,486   11,162  
Net losses and loss expenses (632,294) (580,153) (1,131,256) (1,092,481)  
Acquisition costs (189,125) (183,263) (369,761) (354,805)  
Expenses (146,746) (148,482) (296,648) (311,723)  
Net investment income 91,730 88,544 140,896 180,651  
Net realized investment gains (losses) 21,010 (11,110) (45,500) (53,662)  
Foreign exchange (losses) gains 56,602 (22,108) 55,986 41,112  
Interest expense and financing costs (12,914) (12,939) (25,747) (25,196)  
Income before income taxes $ 134,361 $ 75,186 $ 176,207 $ 240,322  
Net loss and loss expense ratio 66.80% 61.60% 61.20% 59.20%  
Acquisition cost ratio 20.00% 19.50% 20.00% 19.20%  
General and administrative expense ratio 15.40% 15.80% 16.00% 16.90%  
Combined ratio 102.20% 96.90% 97.20% 95.30%  
Goodwill and intangible assets $ 85,954 $ 101,053 $ 85,954 $ 101,053 $ 86,858
Operating Segments [Member]          
Segment Information [Line Items]          
Gross premiums written 1,320,434 1,188,413 3,279,595 2,867,345  
Net premiums written 1,007,350 946,544 2,693,156 2,402,090  
Net premiums earned 946,990 941,211 1,849,331 1,845,264  
Other insurance related income (loss) (892)   (1,094)    
Other insurance related income (loss)   3,486   11,162  
Net losses and loss expenses (632,294) (580,153) (1,131,256) (1,092,481)  
Acquisition costs (189,125) (183,263) (369,761) (354,805)  
Expenses (114,819) (124,433) (238,409) (251,502)  
Underwriting income (loss) 9,860 56,848 108,811 157,638  
Operating Segments [Member] | Insurance [Member]          
Segment Information [Line Items]          
Gross premiums written 784,017 761,126 1,437,365 1,363,850  
Net premiums written 526,764 534,263 999,926 971,004  
Net premiums earned 439,279 452,322 877,958 899,789  
Other insurance related income (loss) (234)   (96)    
Other insurance related income (loss)   269   269  
Net losses and loss expenses (306,141) (297,534) (580,546) (583,307)  
Acquisition costs (61,829) (66,920) (123,227) (131,375)  
Expenses (82,487) (88,420) (168,064) (176,109)  
Underwriting income (loss) $ (11,412) $ (283) $ 6,025 $ 9,267  
Net loss and loss expense ratio 69.70% 65.80% 66.10% 64.80%  
Acquisition cost ratio 14.10% 14.80% 14.00% 14.60%  
General and administrative expense ratio 18.70% 19.50% 19.20% 19.60%  
Combined ratio 102.50% 100.10% 99.30% 99.00%  
Goodwill and intangible assets $ 85,954 $ 101,053 $ 85,954 $ 101,053  
Operating Segments [Member] | Reinsurance [Member]          
Segment Information [Line Items]          
Gross premiums written 536,417 427,287 1,842,230 1,503,495  
Net premiums written 480,586 412,281 1,693,230 1,431,086  
Net premiums earned 507,711 488,889 971,373 945,475  
Other insurance related income (loss) (658)   (998)    
Other insurance related income (loss)   3,217   10,893  
Net losses and loss expenses (326,153) (282,619) (550,710) (509,174)  
Acquisition costs (127,296) (116,343) (246,534) (223,430)  
Expenses (32,332) (36,013) (70,345) (75,393)  
Underwriting income (loss) $ 21,272 $ 57,131 $ 102,786 $ 148,371  
Net loss and loss expense ratio 64.20% 57.80% 56.70% 53.90%  
Acquisition cost ratio 25.10% 23.80% 25.40% 23.60%  
General and administrative expense ratio 6.40% 7.40% 7.20% 8.00%  
Combined ratio 95.70% 89.00% 89.30% 85.50%  
Goodwill and intangible assets $ 0 $ 0 $ 0 $ 0  
Corporate, Non-Segment [Member]          
Segment Information [Line Items]          
Expenses (31,927) (24,049) (58,239) (60,221)  
Significant Reconciling Items [Member]          
Segment Information [Line Items]          
Net investment income 91,730 88,544 140,896 180,651  
Net realized investment gains (losses) 21,010 (11,110) (45,500) (53,662)  
Foreign exchange (losses) gains 56,602 (22,108) 55,986 41,112  
Interest expense and financing costs $ (12,914) $ (12,939) $ (25,747) $ (25,196)